Ripple Price Technical Analysis – XRP/USD Short-term Pressure 107

Key Highlights

  • Ripple price is currently under pressure and is currently below $2.70 against the US Dollar.
  • There was a break below a connecting bullish trend line with support at $2.70 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • On the upside, there is a key resistance forming around $2.80 and the 100 hourly simple moving average.

Ripple price is struggling to retain the bullish bias against the US Dollar and Bitcoin. XRP/USD may decline in the short term towards the $2.40 and $2.30 levels.

Ripple Price Decline

There was a recovery initiated from the $2.15 swing low in Ripple price against the US Dollar. The price recovered above the $2.30 level and the 23.6% Fib retracement level of the last decline from the $3.35 high to $2.15 low. However, the upside recovery was limited and the price was not able to move above $2.80. There was also no proper close above the 100 hourly simple moving average, which is currently at $2.75.

Moreover, the price failed to break the 50% Fib retracement level of the last decline from the $3.35 high to $2.15 low. There was a fresh downside wave initiated from the $2.80 swing high. During the downside, there was a break below a connecting bullish trend line with support at $2.70 on the hourly chart of the XRP/USD pair. The pair is now struggling to recover and is currently below $2.60 and the 100 hourly SMA.

On the upside, there is a major bearish trend line forming with resistance at $2.75 on the same chart. If the pair corrects higher, it could face sellers near $2.75-2.80. On the downside, it seems like the pair may decline and test the $2.40 support.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is currently in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 40 level.

Major Support Level – $2.40

Major Resistance Level – $2.80

 

Charts courtesy – Trading View, Kraken

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My Crypto on ICONFi: Check exchange wallets at once 2236

My Crypto service has launched on ICONFi, the hybrid Crypto savings and staking platform providing the highest compound yield rates on crypto savings. My Crypto allows users to add the API from crypto exchanges like Binance and Coinbase, supporting the users to check their balances at once. Easy and convenient.

A crypto user would need to use different crypto exchanges simply because exchanges have listed different kinds of coins and tokens. There’s a good chance many crypto Hodlers and traders would be struggling to check the balances of the exchanges they are using. This already sounds super bothering, and it is painful to multi-task through exchange apps to check the balances. My Crypto provided a solution to this problem.

With My Crypto service, ICONFi users can see the balances of different coins and tokens on different exchanges, making the crypto asset management super simple. And as this is Read-only API, the ICONFi app only shows the balance data while not having access to actual crypto assets. It would be also interesting to compare the ROI from the direct trading with ICONFi’s Fixed savings compound interest rates.

ICONFi’s Growth Lead Steve Cho said, “My Crypto service is expected to address the issue of dealing with many different exchange wallets. It also shows the total value of users’ crypto assets in BTC, making it easier to see how much crypto assets they have in exchange wallets and ICONFi wallets altogether.” And he added, “Many ICONFi users put their BTC, ETH, USDT, and USDC on ICONFi Flexible account so that they can receive the basic interest rates, because it has no lockup period (withdrawal takes up to 24 hours though) while giving up to 3.5% compound interests, which is normally higher than other platforms’ Fixed savings with lockup periods. People always want to get the maximum profits out of their actions and ICONFi users just know this is the best option they can have without taking risks of lockup period because the crypto market shifts a lot. They know that if they sit their coins on exchange wallets, in fact they are losing value while taking the opportunity costs.”

ICONFi’s CEO Sean Kim said, “The vision of ICONFi is Make Crypto Simple – we want to provide easy and convenient crypto finance services to the entire crypto users.” He added that “ICONFi is officially giving out the highest compound interest rates on BTC (without considering platform tokens) in the market and it is the only Crypto savings platform giving its users Fixed rates. All other platforms cut down the rates if users put more crypto, which sounds super absurd. Users deserve more yields if they put in more assets. We want to support any crypto user to get the most value out of their Bitcoin in an easy, simple, and convenient manner.” Sean Kim has 11+ years’ experience in financial service consulting at PwC and Ernst & Young and expertise in financial system, derivatives, and investments. He also has been a financial engineer and mathematician.

ICONFi is a Hybrid platform providing both Crypto Fixed savings and Crypto Staking services. ICONFi provides the familiar ID and Passwords system while providing compound interests on Crypto savings and Auto-Staking features, positioning itself as an alternative to direct crypto trading. The website www.icon-fi.com has the interest calculator to see the details and expected interests on ICONFi savings accounts – it is always harmless to have more options, and ICONFi would be a good alternative if anyone understands the benefit of the compound interest system.

With the launch of My Crypto service, ICONFi announced a whopping 10 million USD worth of Fixed Savings events where users can receive the MAX interest rates for 28 days until the total event savings amount hits $10M. Check out the details from the ICONFi Medium Blog.

Check out more about ICONFi:

Website: https://www.icon-fi.com
Medium: https://medium.com/iconfi
Twitter: https://twitter.com/ICONFiWorld
Discord Community: https://discord.gg/YdWsjaW8Eh

Klein Finance Announced the Completion of a Funding Round With Participation From KCC Chain and KuCoin-Ventures 2199

Klein Finance, a stablecoin liquidity provider and exchange platform built on KCC (Kucoin Community Chain), announced the opening of its funding program. It has already received a multi-million dollars investment from KuCoin Ventures and KCC chain.

Klein Finance is an efficient decentralized trading platform for digital assets built on KCC (Kucoin Community Chain), which aims to enable digital assets to be traded and staked for rewards in a secure and stable on-chain environment with low slippage, good depth, and low fees.

1. Klein Finance’s mixed liquidity pool, which provides a cross-market mechanism for creating stablecoins, uses a license-free trading block at the bottom that can accommodate multiple stablecoins to non-stablecoins and multiple non-stablecoins to multiple non-stablecoins.

2. Trading mining and liquidity mining will be rewarded to traders, liquidity providers and partners according to certain reward rules, working together to achieve the goal of profitable agreements.

3. Klein Finance provides a cross-market mechanism for creating stablecoins, and the underlying uses a license-free trading block that can accommodate a wide range of exchange needs.

4. The dynamic pegging approach using AMM creates liquidity for assets that are not necessarily pegged to each other in a way that is more efficient than the invariance of (m-n=λ). This creates liquidity that is 5 to10 times higher than other traditional decentralized exchange invariants, while also generating higher profits for the liquidity provider.

It is understood that Klein Finance project technology development has been largely completed and the new funds will be used for project promotion and expansion of the team size, subsequent opening of the technology and expansion of its structured products. It is reported that Klein Finance’s financing plan will continue.

TRON DAO and Other Blockchain Leaders Jointly Roll out USDD 2270

Usdd

On May 5, Justin Sun, Founder of TRON, announced on Twitter that the TRON DAO Reserve rolled out a decentralized stablecoin named USDD, which has so far been listed on Sunswap, Sun.io, Curve, Uniswap, Ellipsis, Pancakeswap, Kyberswap, etc., with an initial total supply of one hundred million. Through the cross-chain protocol BTTC, both of the circulating supply on Ethereum and BSC are near twenty million.

USDD is a decentralized algorithmic stablecoin launched collaboratively by the TRON DAO Reserve and top-tier mainstream blockchain institutions. The USDD protocol runs on the TRON network, is connected to Ethereum and BNBChain through the BTTC cross-chain protocol, and will be accessible across more blockchains in the future. USDD is pegged to the US Dollar (USD) through TRX and maintains its price stability to ensure users have access to a stable and decentralized digital dollar system that guarantees financial freedom.

USDD is a cryptocurrency issued by the TRON DAO Reserve with a highly stable price and diverse use cases. It is based on TRON and pegged to the U.S. dollar at a ratio of 1:1, which means regardless of market volatility, the USDD protocol will keep USDD stable at 1: 1 against the US dollar via proper algorithms in a decentralized manner. Like other TRC-20 tokens, USDD can be traded with no brokers; it depends solely on the smart contracts on the TRON network. Being free from the control of any individual or organization makes USDD more capable of playing its role as a stablecoin. As a fast, low-fee crypto asset with a large supply and competent for cross-border transactions, USDD brings its holders tremendous benefits of the blockchain technology without the risk of volatility.

According to available information，the TRON-based decentralized stablecoin USDD was born with the mission of building a modern financial system on the blockchain. Its permissions are managed by the TRON DAO Reserve, which functions as its early custodian. Also, the TRON DAO Reserve ensures USDD’s price stability and decentralization by collateralizing this cryptocurrency with reserves. This organization aims to safeguard the overall blockchain industry and crypto market, prevent panic trading caused by financial crises, and mitigate severe and long-term economic downturns. By setting risk-free interest rates and regulating the market through liquidity provision, it is able to stabilize the exchange rates of centralized and decentralized stablecoins on TRON and other blockchains. It also intends to formulate and implement monetary and exchange rate policies, play the role of a lender of last resort to minimize systemic risks and ensure the stability of the financial market.

On April 21, TRON founder Justin Sun tweeted an open letter stating that the TRON DAO Reserve, at its initial stage, would provide custody service for the $10 billion worth of highly liquid assets raised from initiators of the blockchain industry as an early-stage reserve, all of which would go to the TRON DAO Reserve in six to twelve months. The Reserve will continue to attract more liquidity assets into its reserves to better play its role as a decentralized institution.

After four years of growth, TRON has seen over 88 million on-chain users and 3 billion transactions in its ecosystem. At present, the circulating supply of TRC-20 USDT has exceeded that of ERC-20 USDT, making TRON the world’s largest stablecoin network, which boasts over $55 billion worth of financial assets, including on-chain stablecoins, and has settled and cleared $4 trillion worth of assets. In December 2021, the TRON network became fully decentralized and was restructured into the TRON DAO community, the largest decentralized autonomous organization (DAO) in the world.

At the end of 2021, Justin Sun was officially appointed by the government of Grenada as its Ambassador and Permanent Representative to the WTO and was authorized to represent Grenada at the WTO meetings during his mandate. Justin said that he would proactively promote the integration of cryptocurrencies and sovereign states to build a new financial system that is secure, efficient, and inclusive. In the meantime, he would also leverage his experience in the digital currency field for a joint response to the new challenges regarding digital transformation in the post-pandemic era.

Global Metaverse Event of Lydian. World in Dubai Opera 7th May 2022 2550

The event will take place on the 7th of May 2022 in Dubai Opera. As a first offline event of such scale where thousands of guests from all over the world will gather to become a part of Lydian.World metaverse. Guests are invited to take part in multiple business opportunities and multiple entertainment moments.

Lydian.World is a virtual game partially owned by its users which in reward for their engagement and strategy the game rewards them back in cryptocurrency. In other words, the place where you can Earn, Learn & Have fun!

If this already rings a bell for you, join Lydian.World! The metaverse brings opportunities such as: staking pools, crypto credit cards sharing their commissions, mining pools, assisted trading, NFT marketplace, a trivia game over the blockchain, a lot of airdrops & much more!

Chief Technology Officer – Alexandru Cocindau: “Do you remember the feeling of joy when your parents were gifting you a new toy? That moment when you want to play with it all day long, to discover it, to learn it! This is our day to day gift, this is our Lydian.World, and my mission is to bring the joy, the happiness and the freedom smile every day for every single player.”

The most successful and influential representatives of the crypto industry will attend in Dubai on the 7th of May. Join them all now in the https://lydian.world

Buy tickets for the event here: https://gspartners.global – Event Tickets. VIP Starting with 99 USDT / Ticket. Or you can ask for a ticket on the Telegram group: Lydian.World

Euroswap EDEX: Last Token Launch Phase Before Listing – Team Announces Exchanges for Listing 2471

The next round of the PreSale phase for EuroSwap EDEX will be the final round before the project’s first listing on a major exchange. At the launch of the Trading Season phase for EDEX token, the exchange will launch the Traders Competition event, Coinmarketcap will add EDEX to the list of tracked projects, and the European media is already preparing to discuss the main crypto event of Spring 2022. We should expect that all these factors will trigger a chain reaction of Euroswap popularity and the price of this token will fly to Europe (Jupiter’s satellite) in the first days.

Everything brilliant is simple

The major digital products of the last decade prove that all genius lies in simplicity. The Euroswap EDEX project is on par with these brilliantly simple products. How to reach millions of EU citizens and at the same time increase the popularity of the new financial phenomenon Web3.0? You just had to come up with Euroswap EDEX.

While the crypto-economy is already considered something commonplace in the world, only about 12% of Europeans have dealt with cryptocurrencies. EDEX will allow the vast majority of European citizens to easily own cryptocurrency and just as easily sell crypto assets for real money. Remember how long it took us to get used to shopping online? Euroswap will accustom Europeans to the digital economy even faster.

Euroswap EDEX is the first European cryptocurrency exchanger focused primarily on euro and crypto exchanges. To buy and sell cryptocurrency in a few clicks, Europeans will simply need to create a DEX wallet and link their bank card. The closest counterpart to the simplicity of this transaction is buying an Apple voucher or a YouTube Premium subscription.

The main operating element of this technology will be the connection of VISA-like fiat gateways. Once the EDEX method is implemented, Europeans will definitely be ahead of the world’s crypto-asset ownership statistics. It is expected that by 2024, more than 300 million EU residents will be active participants in crypto transactions. That’s about 45% compared to the current 12% and much of the credit for this statistic will go to EDEX.

Spring 2022’s most promising investment

Euroswap EDEX has become a cult project since the initial distribution of Euroswap tokens. Very soon the first investors will be able to record more than 1300% profit as soon as the token is added to a major exchange listing. Once trading begins, EDEX will increase in value many times over, as demand will exceed supply. The main reason for this is that more than 75% of Euroswap’s early investors have already added their assets to Early Staking up to 152% APY That is, these assets will not be available for trading for at least 12 months

Official sources from the EuroSwap EDEX team confirmed the final selection of the centralized exchange that will be the first to list the EDEX token. The developers chose the most promising platform for the token out of several dozen applicants. About a month ago, they announced a shortlist, where they named 3 exchanges: Gate.io, HitBTC and KuCoin. All of these exchanges have trust ratings above 90% and each has a daily turnover of at least $5,000,000,000.

Immediately after adding EDEX to the trading pairs, the exchange will start the Traders Competition – this will give a boost to the popularity of the new asset among hundreds of thousands of active traders. Large volumes of daily trades are guaranteed, which means that EDEX will literally immediately get on the Coinmarketcap list of tracked projects – millions of potential investors will see it there. Analysts predict a sharp rise in the price of EDEX right after its listing.

Prior to listing on the exchange, EDEX tokens are distributed to investors on Euroswap’s official website. The current price of EDEX token is 0.1624 BUSD (0.15 EUR) Euroswap assets can be purchased via Metamask and TrustWallet wallets or via 24-hour support in Telegram. This is the last opportunity to buy EDEX at a low price, because after the listing, traders will immediately raise the price – the demand will many times exceed the supply.

EDEX’s accomplishments before a major listing

Throughout its formative stage and the period of attracting seed investment, the EDEX project has regularly demonstrated to investors the income tools and security guarantees. From day one, the developers showed the project’s MVP to the community – it was a fully functional swap exchange for the BUSD/EDEX pair.

In early 2022, the EDEX project enabled investors to profit from investing their Euroswap assets in Early Staking. This is an early investor incentive system where they could lock in their assets for 6, 9 or 12 months with the ability to earn up to 152% APY. Each participant could choose to add assets to Staking or keep them for trading. Right now, more than 75% of EDEX holders have already locked in their tokens for 12 months and are making passive profits. The Staking option will remain available even after listing.

In January 2022, the Euroswap team commissioned an independent audit of the project from the most prestigious company in the industry, Certik. The EDEX developers also published all the results of the audit and the auditors’ comments in public sources. In addition, the team constantly publishes the project’s progress on GitHub.

The next step after the listing on the centralized exchange will be the launch of another passive income tool – Euroswap will launch a full-fledged Farming for holders of EDEX tokens. Accordingly, this means that the project will appear on one of the Decentralized Exchanges like PancakeSwap or UniSwap.

Faith Tribe Offers Its Own Native Token $FTRB to Buy Physical Fashion Wear Through Digital Mediums 2569

Optimizing the power of Web3 technology, Faith Tribe takes over the metaverse, highlighting digital fashion. The closer we look around ourselves, the more we notice how the swift rise of various industries today has been possible with the accurate use of digital mediums in their daily workings. It is time people accept and embrace the numerous features, tools, and services of the digital space to take their brands and businesses to the next level of success, advise experts. The fashion niche among them has seen some surprising growth statistics, which can now be attributed to the advanced use of the digital financial space, including crypto, NFTs, Web3, and the like, leading to Web3 fashion and coming together of luxury fashion brands with incredible NFT drops. Faith Tribe, as part of global Paris-based fashion brand Faith Connexion, is developing a cutting-edge digital platform for the creation of fashion items.

Recent news is abuzz that Faith Tribe, who’s aim is democratizing fashion in the metaverse, has made new developments by helping designers create their digital garments and spread it across the digital realm. The ambition of Faith Tribe is to empower independent creators in both the physical world and the metaverse. It will pave the path of growth and success for designers by allowing them to create their physical or digital collection, mint it as NFT’s and finally selling it on a digital fashion marketplace. The project implies the creation of $FTRB, a community coin that stands as a unified currency between the community and various components of the ecosystem.

The $FTRB token is dual-chain token on Ethereum and Polygon, audited by both Certik and Omniscia. The coin received as well the support and advices of pioneers in the industry, such as Brock Pierce, Define Labs, and CEO of NFT Technologies Mario Nawfal. Launched on February 24th on AscendEx and Uniswap, the coin soared up to 0.07$ before stabilizing around 0.05$, marking a x5 performance despite very nervous markets due to the Russian invasion of Ukraine on the same day. The coin is also ready to be listed on several top-tier exchanges soon.

Holding $FTRB will be necessary to have access to the product experience offered by Faith Tribe. Nevertheless, holding $FTRB will also allow holders to buy clothes at a discount from the Faith Tribe’s global marketplace as well as from Faith Connexion’s ecommerce store. In addition, holders will be able to contribute to the liquidity pool to support creators, vote through mass-voting program for the best garments, or finally participate in a staking program.

Faith Tribe(https://faithtribe.io/) is developing the first fully decentralized and community-owned ecosystem for the creation of fashion products, Faith Tribe has taken every step forward in the digital fashion world, allowing creators and designers to customize, design, mint, and distribute their physical and digital fashion lines and assets. Faith Tribe sponsored as well a couple of major events recently, such as NFT LA conference, AIBC in Dubai, Paris NFT Day, Metaverse Fashion Week on Decentraland and finally Latin American Fashion Summit (LAFS in Miami).